Mastercard will invest Rs 250 crore in India to help reboot Small Micro Enterprises (SMEs) and enable business recovery. Their dependency on the cash-economy and supply chain disruptions have made the businesses hardest hit from the Covid-19 pandemic.
The company will help small businesses to grow digitally by providing low-cost acceptance solutions online and offline that are simple, safe and secure. Mastercard aims for one crore merchants in India with digital payment acceptance capabilities and adding infrastructure to carry out transactions as there are many online transactions that had done in the lockdown but of the low value.
Due to pandemic, the value of transactions has decreased and the company has hit a pause button in the activities in India.
Porush Singh, Division President, South Asia, Mastercard said, “Small businesses are the foundation of India’s economy, contributing nearly 35 per cent of the GDP. Mastercard will leverage its network, knowledge, technology and partnerships to help these enterprises sustain and grow their businesses”. He also mentioned that the company has already finished a $1 billion investment cycle between 2014-19, which added above the commitment to invest $1 billion in India till 2025.
A global leader in the payment industry, Mastercard had pledged to expand worldwide to bring about a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025. The company has also pledged in April, to support small businesses globally with $250 million.

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